Cargo traffic at major ports rises by 11.43% in August

Cargo traffic at India’s major ports increased by 11.43% year-on-year (YoY) to 57.59 million tonnes (MT) in August. The country’s 12 major ports had handled 51.68 MT of cargo in August 2020. The ports under control of the central government include Deendayal, Mumbai, JNPT, Mormugao, New Mangalore, Cochin, Chennai, Kamarajar, VO Chidambarnar, Visakhapatnam, Paradip, and Kolkata. 

VA Tech Wabag secures $11.45 million order for Malaysia’s Petronas Refinery

VA Tech Wabag has secured an order worth $11.45 million (~Rs 83.7 crore) from Dialog E&C Sdn. Bhd. for establishing an effluent treatment plant in Johor, Malaysia. The plant at Pengerang Integrated Complex will be constructed for PRPC Utilities and Facilities Sdn Bhd, a subsidiary of Petronas Refinery and Petrochemical Corporation (PRPC). Wabag will provide design, engineering, procurement, and supervision services for the proposed effluent treatment plant.

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Welspun gets USFDA approval for 3 Ply Surgical Masks

Welspun India has become the first Indian company to receive one of the most stringent and well-recognized quality approvals, the USFDA 510(k) clearance, for its 3 Ply Surgical Masks. The product is made with 100% polypropylene and offers 98% protection against bacterial load. Welspun’s 3 Ply Surgical Masks is already certified by the Bureau of Indian Standards (BIS) and CE (conformity of goods with European standards).

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Lupin partners with TB alliance for new therapy for drug-resistant Tuberculosis

Non-profit drug developer TB Alliance has granted a non-exclusive license to manufacture anti-tuberculosis drug Pretomanid to Lupin Ltd. Pretomanid is part of a three-drug regimen BPaL, which includes bedaquiline and linezolid. It is used to treat those with extensively drug-resistant TB. Lupin intends to commercialize the drug in nearly 140 countries and territories, including many of the highest TB burden nations around the world.

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Ahluwalia Contracts secures order worth Rs 890 crore

Ahluwalia Contracts (India) Ltd has secured an order for the construction of an Animal Science University at Patna from the Executive Engineer Construction Division-1, Building Construction Department, Patna (Bihar). The order is worth Rs 890 crore. The company’s total order inflow in the current financial year (FY22) stands at Rs 1,119 crore.

Zydus Cadila gets USFDA approval for diabetes medication

Zydus Cadila has received approval from the US Food & Drug Administration (USFDA) to market Sitagliptin, a drug indicated to treat diabetes. On October 31, 2020, the pharma company had filed a new drug application (NDA) with the USFDA seeking approval to market Sitagliptin base 25, 50, and 100 mg tablets. The NDA received tentative approval upon completion of the first review cycle on September 2, 2021.

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Tamilnad Merchantile Bank files DRHP for IPO

Tamilnad Merchantile Bank has filed a Draft Red Herring Prospectus (DRHP) with market regulator SEBI to raise funds via an initial public offering (IPO). The IPO comprises a fresh issue of up to 1.58 crore shares and an offer for sale (OFS) of up to 12,505 shares by existing shareholders. Tuticorin-based Tamilnad Mercantile Bank is a professionally managed lender and does not have an identifiable promoter. The 100-year-old company was established as a lender for the Nadar community in Tamil Nadu.

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Alembic Pharma’s JV gets USFDA approval for Metronidazole gel

Aleor Dermaceuticals, a joint venture (JV) of Alembic Pharma, has received final approval from the USFDA for Metronidazole gel. The gel is indicated for the topical treatment of inflammatory lesions of rosacea (a condition that causes redness and often small, red, pus-filled bumps on the face). According to IQVIA, Metronidazole gel USP had annual sales of $29 million (~Rs 211 crore) for the twelve months ended June 2021.

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NMDC targets iron ore output of 44 MT in FY22; draws up capex of Rs 3,750 crore

NMDC Limited is planning a capital expenditure (capex) of Rs 3,750 crore and targeting an iron ore output of 44 million tonnes (MT) in the current financial year (FY22). The company had achieved an iron ore output of 35 MT during the Covid-hit FY21. NMDC has registered strong volume growth and revenue growth during the first five months of FY22 and expects to sustain the growth momentum.

State-owned NMDC has also reduced the prices of lump ore and fine ore by Rs 1,000 per tonne.

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